SOURCE: Leerink Swann & Company

July 29, 2005 12:26 ET

Leerink Swann & Company Initiates Coverage of Arena Pharmaceuticals, Inc. (NASDAQ: ARNA)

BOSTON, MA -- (MARKET WIRE) -- July 29, 2005 -- This morning, Senior Biotechnology Analyst, William Tanner, Ph.D., initiated coverage of Arena Pharmaceuticals, Inc. with an Outperform rating. His investment rating is based on the strength of Arena's drug discovery capabilities -- a view that has been validated by Arena's partnerships with Johnson & Johnson's Ortho-McNeil Pharmaceuticals as well as with Merck. The company has three products in the clinic serving large potential commercial markets.

About Arena Pharmaceuticals, Inc.

Arena Pharmaceuticals, Inc. (NASDAQ: ARNA), a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of drugs in the therapeutic areas of metabolic, cardiovascular, inflammatory, and central nervous system diseases. The company is developing a pipeline of compounds that act on drug targets called G protein-coupled receptors. Arena's products include APD356, an agent in Phase II clinical trial, for the treatment of obesity and APD125, a Phase I clinical trial product, for the treatment of insomnia. The company is headquartered in San Diego, California.

About Leerink Swann & Company

Leerink Swann & Company is an investment banking firm that provides healthcare equity research, corporate finance, and asset management services for institutional and high-net-worth clients. Leerink Swann & Company was voted the Best Firm in Biotechnology, Medical Supplies and Devices, Pharmaceuticals/Major and Pharmaceuticals/Specialty in the December 2004 Institutional Investor poll ranking the best boutique and regional firms by sector. Through its consulting affiliate, MEDACorp, Leerink Swann & Company provides biomedical-consulting services to Life Sciences companies and to the institutional investment community. MEDACorp includes thousands of biomedical professionals and practicing physicians. Leerink Swann & Company is a member NASD/SIPC.

Contact Information

  • Contact:
    John I. Fitzgerald
    Leerink Swann & Company
    (617) 918-4564
    www.leerink.com